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A: Abiola, a programmer, earned $35,000 in 2015, but in 2016, he began to manufacture body boards. He…
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A: Marginal cost refers to additional cost that is incurred by pricing one more unit of a good.
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Q: calculate the profit at the production level.
A: Profit is the difference between Total Revenue and Total Cost. The assumption is the total cost…
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A: Average product indicates the average number of output produced by each unit of input or each…
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Q: Explain the situation in the market when a cost of grouper fingers is $7 per plate
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A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
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A: Production means goods and services are produced with the use of inputs and technology. It means the…
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